Carnival Cruise Lines: Long and Short Term Strategies
Carnival Cruise Lines: Long and Short Term Strategies
Contents Contents 2 History of the Carnival Corp 3 Mission and Vision Statements 5 SWOT Analysis 6 Business Ethics for Carnival Cruise Lines 8 Social, Cultural, Demographic, and Environmental Forces 10 Social Forces 10 Cultural Forces 10 Demographic Forces 10 Environmental Forces 11 External Forces 11 Economic forces 11 Government, Legal, and Political Forces 13 Internal Operations Strengths and Weaknesses 16 Management Information System 17 Finance and Accounting 19 Competitors’ overview 21 Research and Development 22 The External Factor Evaluation (EFE) Matrix 25 The Competitive Profile Matrix 26 Long-Term Goals and Strategies 27 Environment 27 Technology 28 Financial Goals 29 Customer Service Goals 29 Management Goals 29 Marketing Goals 30 Strategies towards Competitors 30 Works Cited 32
History of the Carnival Corp
Although the name Carnival Corporation didn’t come into existence until 1994, the foundation for the company was laid when its flagship brand, Carnival Cruise Lines, was formed in 1972 by cruise industry pioneer, the late Ted Arison. After achieving its position as "The World’s Most Popular Cruise Line", in 1987 Carnival made an initial public offering of 20 percent of its common stock which provided the initial influx of capital that allowed the company to begin expanding through acquisition. Over the years, Carnival has acquired representation in virtually every market segment of the cruise industry, including premium operator Holland America Line in 1989 (the purchase included niche operator Windstar Cruises and Alaskan/Canadian tour operator Holland America Tours); luxury brand Seabourn Cruise Line in 1992; Genoa, Italy-based contemporary brand Costa Cruises, Europe’s number one cruise operator, in 1997; and venerable premium/luxury operator Cunard Line in 1998, which built the world’s largest ocean liner, the 150,000-ton Queen
Contents Contents 2 History of the Carnival Corp 3 Mission and Vision Statements 5 SWOT Analysis 6 Business Ethics for Carnival Cruise Lines 8 Social, Cultural, Demographic, and Environmental Forces 10 Social Forces 10 Cultural Forces 10 Demographic Forces 10 Environmental Forces 11 External Forces 11 Economic forces 11 Government, Legal, and Political Forces 13 Internal Operations Strengths and Weaknesses 16 Management Information System 17 Finance and Accounting 19 Competitors’ overview 21 Research and Development 22 The External Factor Evaluation (EFE) Matrix 25 The Competitive Profile Matrix 26 Long-Term Goals and Strategies 27 Environment 27 Technology 28 Financial Goals 29 Customer Service Goals 29 Management Goals 29 Marketing Goals 30 Strategies towards Competitors 30 Works Cited 32
History of the Carnival Corp
Although the name Carnival Corporation didn’t come into existence until 1994, the foundation for the company was laid when its flagship brand, Carnival Cruise Lines, was formed in 1972 by cruise industry pioneer, the late Ted Arison. After achieving its position as "The World’s Most Popular Cruise Line", in 1987 Carnival made an initial public offering of 20 percent of its common stock which provided the initial influx of capital that allowed the company to begin expanding through acquisition. Over the years, Carnival has acquired representation in virtually every market segment of the cruise industry, including premium operator Holland America Line in 1989 (the purchase included niche operator Windstar Cruises and Alaskan/Canadian tour operator Holland America Tours); luxury brand Seabourn Cruise Line in 1992; Genoa, Italy-based contemporary brand Costa Cruises, Europe’s number one cruise operator, in 1997; and venerable premium/luxury operator Cunard Line in 1998, which built the world’s largest ocean liner, the 150,000-ton Queen
Cited: Carnival Facts. (n.d.). Retrieved September 27, 2009, from Carnival Cruise Lines: http://www.carnival.com/CMS/Static_Templates/Carnival_Facts.aspx Financial reports. (2003, July 30). Retrieved September 27, 2009, from Carnival Corporation & PLC: http://media.corporate-ir.net/media_files/nys/ccl/reports/dlccircular.pdf Fodor 's. (n.d.). Retrieved October 03, 2009, from Fodor 's Travel: http://www.fodors.com/cruises/ Fran Finnegan & Company. (1996, November 30). Carnival Corp · 10-K · For 11/30/96. Retrieved October 03, 2009, from Securities Information: http://www.secinfo.com/dxrVm.8e.htm Holland America Line Inc. (n.d.). Retrieved October 03, 2009, from Holland America Line: http://www.hollandamerica.com/news/Main.action Martin, R. (2009, March 12). Short The Cruise Lines, Buy The Cruises. Retrieved October 10, 2009, from Forbes.com: http://www.forbes.com/2008/12/03/carnival-royal-caribbean-pf-ii-in_rm_1203latam_inl.html Yahoo!Finance . (n.d.). Retrieved October 03, 2009, from Yahoo: http://finance.yahoo.com/q?s=CCL